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Gucci pick Murjanis to enter luxury market

13 Jan '06
3 min read

Polet's vision statement of 'ship in or shape out' in November '04 seemed to have worked for the smaller brands who were dragging on their bottom line. Even Yves Saint Laurent (YSL) seems to be on track and should break even soon, though Polet refuses to confirm when. Though his critics have said his FMCG background has made him put too much emphasis on market research, Polet politely disagrees.

The future, though, for Gucci is Asia. In the next three years, Polet sees at least 60 percent of Gucci's retail investment coming into Asia (excepting Japan) and in the third quarter of '06, Polet will as declared open two flagship stores in Asia. “One is in Ginza in Tokyo and other in Landmark in Hong Kong.

It has been eight to nine years since we changed our retail look we need to re-fresh,” said Polet who will then take the new store design across their 250 stores over the globe. India is where Polet puts a lot of faith too.

Why has Gucci chosen the Murjani group as Indian partners? “They're professional, but they also have a strong sense of family value, and that is what is Gucci is about too,” says Polet.

But Polet means something slightly different: “Family-run companies have a spirit of entrepreneurship, an ability to take risks and decisions that can be hard in a multinational company where everything is run by committee.” Perhaps that explains why Polet made his switch, from selling ice-cream to luxury brands.

Through thebrands Gucci, Yves Saint Laurent, Bottega Veneta, YSL Beauté, Boucheron, Sergio Rossi, Bédat & Co, Roger & Gallet, Alexander McQueen, Stella McCartney and Balenciaga, the Group designs, produces and distributes high-quality personal luxury goods, including ready-to-wear, handbags, luggage, small leather goods, shoes, timepieces, jewellery, ties and scarves, eyewear, perfumes, cosmetics and skincare products.

The Economics Times

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